chapter 7
RECOMMENDATIONS
The recommendations given are primarily based on the analysis for the improvement of bank’s efficiency, if these were followed it will give positive effects on the profitability, and the role it plays in the development of the province of the bank.
Better Training Program
Is has been notified that the training programs of BAF is not adequate. Special marketing training should be given to employees for motivating customers. The training programs of bank should include modern techniques to improve decision-making and inter-personal as well as individual needs of an employee.
Enhanced Customer Services
Constant improvement in customers’ services is needed in today’s competitive environment. Personalized banking should be introduced to attract more customers. Equal respect should be given to all customers.
Better Communication
The management of BAF should concentrate on improving upward communication so as to have better feedback system involvement in bank operations.
Introduction of Management by Objectives (MBO)
The concept of management by objective should be introduced in the bank where the subordinates should be expected to formulate objectives for themselves.
This will ensure the setting up of objectives according to the capabilities of individuals. In addition to this, it will also help in achieving the goals because they are involved in the process of goal setting.
Proper Job Analysis
A detailed and systematic study of the job should be done to know the nature and the characteristics of the people to be employed. This will help in identifying the training needs, evaluating the job and in appraising the performance of the employees.
Introducing Career Planning
As a matter of personal policy, personnel department of BAF should prepare a career plan showing their future growth potential, depending on the job performance and evaluation which should be made known to the employees. In this regard, the employee should be given opportunities to show his performance.
Better Working Conditions
The working area is comparatively smaller as compared to the needs of the branch. As a result there is a lesser working space provided to employees. They have to work about eight hours and sometime even longer. The congested place effects their efficiency at work. It is suggested that better working conditions should be provided for effective and efficient output.
Promotion and Publicity
BAF realize heavily on personal banking, thus it gives no due and proper attention to the more sophisticated methods of promotion. Although billboards are displayed in different parts of the city, yet no proper advertisements have ever appeared in the dailies. The web site too does not give complete information and unique features, which give its edge over the market. So they should adopt strong strategies for promotion and publicity of their services they offer.
Meritorious Recruitment
Appointment in the bank should be strictly on the merit basis with no other favor given to any candidate. This will ensure the entry of competent and worthy employees in the organization.
Marketing Visits
A very useful mode of contact is through personal marketing visits. Such visits have other important by products such as information about the customer financial and business position, about his market reputation and creating a feeling of importance in the mind of client. Such visits should be properly planned and documented with regularity and consistency. The BAF assigns this task to its new recruited employees and rely on their reports. But market specialists should also be send to market for analysis.
Separation of Activities
There is no separation of activities as such. A function of clearing his partially done in deposit department and partly in account department. This creates confusion and conflict in decision-making process. To avoid such confusions, the functions of clearing be done in one department. This separation of activity will be of great help in reducing confusion also added in efficiency and effectiveness.
Accommodation
The seating arrangement is not adequate especially in the deposit and cash department. Proper sitting arrangements must be made for customers.
Use of Motivators
In order to motivate employees, individuals must have a job with a challenging content that is a job with responsibilities for achievement, recognition, advancement and growth. Such motivators should be used for efficient working.
Introduction of Forecasting Techniques
Advanced qualitative techniques of forecasting and inventory maintenance should be introduced so that the management should be aware of its future needs and can make better arrangements to meet these needs.
Encourage Depositors
Big depositors, should be given proper attention and care to encourage saving in the country.
Awareness to Employees
All the employees of BAF at every level must be aware of the basic mission, values and objectives of the organization, so that they can perform best to their abilities and ensure that BAF continue to be recognized favorably at home and abroad.
Motivate Saving Habits
A big portion of the is wasted by purchasing luxury items. The bank should motivate the people towards saving habits by offering the deposits through various investment schemes and the rate of profit should be increased by 1 % to 2% then other banks. This wills a profitable step for the bank.
Employee Training and Development
Refresher courses for the staff are most important in any international organization. Every employee should have these courses according to their requirement. Foreign experts can also be called for this purpose.
No comments:
Post a Comment